Goverment Bailouts: For or Against?

[whalechaser]

What are your thoughts on the recent bailouts of AIG & etc. and the proposed $700 Billion bailout on the horizon??

I believe that it's ridiculous and scary how the government can "loan" this type of money to big businesses ran into the ground by incompetence with the knowledge that they might or might not get the money back.

[haybierman]

I think it is even scarier that people can be against something that, if not imiplemented, will cripple the U.S. economy.

This bailout isn't going to pad the CEO's pockets. They already left with their money.

This money is goinng to make sure that Joe & Sue Smith who have been sticking it out, making their mortgage payments, don't go into default and lose their home.

This money is going to make capital available to borrow so businesses can start-up, grow, and create jobs.

Right now there is ZERO money available. Most banks don't have money to loan. The ones that do have money to loan, aren't loaning it.

People can stick by their Adam Smith principals all they want. Theory is great for the classroom and the pulpit. The simple point is, if the bailout doesn't happen, foreign creditors call in our debts and the American economy dies.